GBPUSD PROJECTION
General view of GBPUSD
On the H4, GBPUSD reached a critical resistance level in a short-term bullish trend. Despite the bullish sentiment, a divergence has formed on the MFI, and the %R shows overbought.
🔼 If the bulls push the price above 1.3140, the target will be 1.3280, corresponding to 161.8 Fibonacci;
🔽 A break of the trend line will start the GBPUSD correction to 1.3030;
On the H4, GBPUSD reached a critical resistance level in a short-term bullish trend. Despite the bullish sentiment, a divergence has formed on the MFI, and the %R shows overbought.
🔼 If the bulls push the price above 1.3140, the target will be 1.3280, corresponding to 161.8 Fibonacci;
🔽 A break of the trend line will start the GBPUSD correction to 1.3030;
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